The Maintenance of Free Trade

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第2章

The Maintenance of Free Trade 佚名

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The Maintenance of Free Trade
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  FortheRuleisinfallible,Thatwhentheexchangedothanswerthetruevalueofourmoneysaccordingtotheirintrinsickeweightandfineness,andtheirextrinsickevaluation:

  Theyareneverexported,becausetheGayneisansweredbyexchange,whichistheCauseofTransportation。Thiscausebeingprevented,makeththeeffecttocease;andthisisengraffedineveryman\'sjudgement,accordingtotheMaximaoftennotedheretofore,SublataCausa,Tollitureffectiu。

  SothatexchangestillhaththecommandandstrikeththeStroake,insomuchthatalbeitthepricethereofrisethandfalleth,accordingtoPlentyorScarcityofmoney:yetmoneysareoverruledthereby。ForisyouinhauncetheCoyne,theexchangedothcontrolleitandriseaccordingly。Andifyouundervaluethesame,Theexchangeinlikemannerdothfallinprice。WhereinnotetheoperationofexchangebothhereandbeyondtheSeas,inplaceswhereexchangesrunneuponthepoundof20shillingsStarlin。IftheinhauncingofCoynebebeyondtheSeas,andtheexchangebenotmadeaccordingly:Thenourmoneysarecarriedout。IftheinhauncingofCoyneweremadehere:Econtra,moneyswouldbeeimported。ButthemerchantStranger,whoobserveththeruleofexchange,and(willnotbeover-takenasweeare;)willover-rulethesameipsofacto,andgiveyousomuchlessinexchange,asweshallinhaunceourCoinebyvaluation,orimbasethesamebyAllay。InlikemannerifyouCrydownemoneysbeyondtheSeas,Th\'exchangewillalterinpriceaccordingly:andifyouCrydownmoneyshere,orundervaluethembyname,Th\'exchangeoughttoRuleandtomakethedenominationaccordinglyinprice,andstillremainethPredominantovermoneysandcommodities。ForevenasCommoditiesbeingtheBodyofTrafficke,drawuntothemmoneys,andthereinmayseemetobeActive;yetmoney(beingtherightjudgeorRulewhichgivethorimposedapriceuntoCommodities:)istheThingActive,andCommoditiesbecomethethingPassive:Evenso,althoughmoneyistheSubjectwhereuponexchangesaremade:yetstillth\'exchangeismadetoRulemoneys;

  Totheend,thatthevaluethereofshouldbeeansweredbythePublikeMeasureofexchange;TopreventallabusesandinconveniencesarisingbythepriceofCommodities,andthevaluationofmoneysinexchange:whichmoneysareeitherReallorimaginary,accordingtotheCustomeoftheplaceofexchangebythedeviceofBankers。

  ThiswasSeriouslyobservedintheyeere1576bydiversmosthonourableandGraveCounselloursofState,Namely,SirNickolasBacon,LordKeeperofthegreatSeale;SirWilliamBurghleyLordTreasurourofEngland,ThomasEarleofSussex,FrancisEarleofBedford,SirFrancisKnowles,SirJamesCroft,andMasterSecretarieWalshingham,withtheassistanceofotherworthypersonsofexperience,namelySirThomasChamberlain,SirThomasGreshamKnight,MasterPeterOsborne,MasterJamesAltham,MasterThomasRivet,andMasterRichardMartin,MasteroftheMints:fortheyfoundthatthefollowinginconvenienceswerepractised,byBankersorexchangersfortheirPrivategaineandbenefite,fortheadvancingofsomeCommon-weales,andthedestructionofotherCommon-weales。

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